By Stephen Culp
NEW YORK (Reuters) - The S&P 500 and the Nasdaq edged up to record highs for the third consecutive session on waning trade jitters that have vexed the markets for much of the year.
On the heels of the United States-Mexico agreement to overhaul the North American Free Trade Agreement (NAFTA), focus shifted to United States' trading partner to the north as Canada's top trade negotiator joined her Mexican and U.S. counterparts in Washington in a bid to remain in the trilateral pact.
All three major U.S. indexes were marginally up in a session of back-and-forth trading as investors debated whether to take profits or ride the market's momentum.
Technology companies led the advance, offset by declines utilities <.SPLRCU>, materials <.SPLRCM> and telecom <.SPLRCL> sectors.
"People trying to figure out whether it pays to stay in (the market) or would it be prudent to take profits now that we got the bump on recent positive trade news," said Chuck Carlson, chief executive officer at Horizon Investment Services in Hammond, Indiana. "Is the next news on the trade front going to be negative? Should they sell or ride the momentum right now?"
Luxury retailer Tiffany & Co
Sears Holding Corp
Yum China Holdings
The Dow Jones Industrial Average <.DJI> rose 37.92 points, or 0.15 percent, to 26,087.56, the S&P 500 <.SPX> gained 2.11 points, or 0.07 percent, to 2,898.85 and the Nasdaq Composite <.IXIC> added 16.73 points, or 0.21 percent, to 8,034.63.
Of the 11 major sectors of the S&P 500, five were in positive territory, with real estate <.SPLRCR> and technology posting the biggest percentage gains.
Among losers, shares of Best Buy Co Inc
Campbell Soup Co
Declining issues outnumbered advancing ones on the NYSE by a 1.23-to-1 ratio; on Nasdaq, a 1.03-to-1 ratio favoured advancers.
The S&P 500 posted 41 new 52-week highs and 1 new low; the Nasdaq Composite recorded 90 new highs and 17 new lows.
(Reporting by Stephen Culp; Editing by Chizu Nomiyama)
This story has not been edited by Firstpost staff and is generated by auto-feed.
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Updated Date: Aug 29, 2018 03:05:38 IST